Lloyd’s Market Association News

Russia, Ukraine Agree to Protect Ukraine Grain Shipping Channel

LONDON/NEW YORK —Ships exporting Ukraine grain through the Black Sea will be protected by a 10 nautical mile buffer zone, according to long-awaited procedures agreed by Russia, Ukraine, Turkey and the United Nations on Monday and seen by Reuters. The …

Property Insurers Exposed to $12.5B in ‘Silent Cyber’ Losses, Market Analysts Say

US property insurers are exposed to $12.5 billion in non-physical cyber losses that are not expected and not priced by underwriters, according to a report released Tuesday. CyberCube, AM Best and Aon teamed up to calculate the “silent cyber” exposure …

Insurers Rewrite Business Policies After Pandemic Legal Tussles

NEW YORK — U.S. insurers are strengthening language in policies that cover business losses to protect them from future claims related to the coronavirus pandemic or other widespread illnesses that disrupt operations, industry sources say. New policies and renewals now …